Marketplace Morning Report for Friday, July 1, 2011

The federal government unveiled the latest version of a plan to save the northern spotted owl, as the bird's population continues to decline. But some of the new rules may come up against the timber industry.

In one of his first interviews since leaving the White House, former National Economic Council director Larry Summers says he believes "reason will prevail" in negotiations over the debt limit because a default would spark a second, scarier economic crisis, a "Lehman Brothers on steroids."